Liquor baron Vijay Mallya arrested in London

Vijay Mallya arrested in London on money laundering charges gets bail within minutes

Liquor baron Vijay Mallya arrested in London in money laundering case

Mallya recently rejected latest findings of Indian investigation agencies that the liquor baron diverted most of the Rs 6,000 crore borrowed from a State Bank of India-led consortium of lenders to several countries including US, UK, France and Ireland.

Mallya has repeatedly refused to appear before courts and investigators in India since he secretly fled to United Kingdom in 2016, after defaulting on loan payments to state-owned banks and allegedly misusing the funds. Mallya had then attended a central London police station for his arrest and was released on conditional bail a few hours later on a bail bond worth 650,000 pounds.

"I have not eluded any court".

Once known as the "King of Good Times", Mallya protested his innocence and described the allegations against him as "fabricated".

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"The new charge is essentially showing where the money went to, for example, it is alleged that some of the funds ended up with the Force India racing team".

The ED is probing the money laundering case against the liquor baron and it has already filed a charge sheet against him and others in a Mumbai court.

Mallya left India in 2016, saying he was moving to England to be closer to his children.

CBI questioned Mallya in December 2015. The arrest was made on fresh documents presented before the magistrate court.

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The ED in a statement said that the process for extradition of Mallya to ensure his presence during the trial of the offence of money laundering has been initiated by it.

Fugitive businessman Vijay Mallya was on Tuesday arrested in London for a money laundering case. "Mallya becoming the symbol of crony capitalism and corporate corruption - still synonymous with the UPA era - serves the larger objective of deflecting attention from the nearly Rs 8 lakh crore worth of bad loans that the public sector banks are losing their wits to recover".

Remember, Modi government has been pushing for Mallya's arrest and extradition for long, asking various investigative agencies to plug the loopholes as the government seeks Mallya's extradition from the UK.

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